economy: The Fed stood by its aggressive efforts to stimulate the economy and reduce unemployment. But it sent its clearest signal to date that tax increases and spending cuts that kicked in this year are slowing the economy, according to 660 News. The Fed maintained its plan to keep short-term interest rates at record lows at least until unemployment falls to 6.5 per cent from its current 7.6 per cent. And it said it will continue to buy $85 billion a month in Treasury and mortgage bonds. The bond purchases are intended to keep long-term borrowing costs down and encourage borrowing and spending and WASHINGTON The Federal Reserve cautioned Americas political leaders Wednesday that their policies are hurting the economy. Fiscal policy is restraining economic growth, the Fed said in a statement after a two-day policy meeting.
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2.5.13